Aust stocks open flat

Local market begins week little changed ahead of this week's US Fed meeting.

The Australian stock market opened little changed as global markets await this week's United States Federal Reserve meeting for direction.

At the 1015 AEST official market open, the benchmark index was 0.1% lower at 5,037 points, while the broader All Ordinaries index edged down 0.08% to 5019.6 points.

Australian Competition and Consumer Commission chairman Rod Sims is slated to speak at at the Australian Institute of Company Directors Leaders' Edge lunch in Melbourne.

No major equities news is expected.

In Australia, the market on Friday closed higher thanks to a rally by banking shares that helped offset weaker resources stocks.

The benchmark S&P/ASX200 index was up 6.4 points, or 0.13%, at 5,042.0 points, while the broader All Ordinaries index was up 5.5 points, or 0.11%, to 5023.8 points.